February 26, 2010 / 7:41 AM / 10 years ago

UPDATE 1-Colt earnings rise on cost cuts, data services

* Core earnings up 4.9 pct due to cost cuts

* Fall in voice revenues offsets rise in data

(Adds details, quote)

LONDON, Feb 26 (Reuters) - Colt Telecom COLT.L posted a 4.9 percent rise in full-year core earnings on Friday as heavy cost cuts helped to offset a fall in sales due to lower voice revenues.

The Luxembourg-based group posted full-year earnings before interest, tax, depreciation and amortisation up 4.9 percent to 319 million euros, and slightly ahead of a company-compiled consensus forecast of 317 million euros.

Revenues were at 1.62 billion euros, broadly in line with forecasts.

“In 2009 Colt maintained momentum against a backdrop of economic uncertainty and challenging markets,” said Chief Executive Rakesh Bhasin. “We grew Data and Managed Services revenue and delivered improved EBITDA.”

“Whilst financial markets responded positively in 2009, we still believe that a note of caution is required regarding the pace and timing of macro economic recovery.” (Reporting by Kate Holton, Editing by Mark Potter)

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